The first element in management\'s process for assessing the effectiveness of internal control is determining which controls should be tested. Identify the controls that would typically be tested by management

controls over initiating, authorizing, recording, and processing. And reporting significant accounts and disclosures and related assertions embodied in the financial statements

•  Controls over the selection and application of accounting policies that are in conformity with GAAP
• Antifraud programs and controls
• Controls, including IT general controls, on which other controls are dependent
• Controls over significant nonroutine and nonsystematic transactions, such as accounts involving judgments and estimates
• Entity-level controls